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Mortgages & endowments

Archives for May 2011

Underwriters reassurance required
Hi all i know there are millions of threads on this already or similair anyway but i was wandering if yoou lovely folk can possibly reassure me. Basically my partner and i purchased our first home almost 2 years ago and sine then the property has declined in price by approx. 10-15% We have agreed a part exchange with the…
Fixed or Tracker? Predictions on Base Rate?
Simple question - Mother's remortgaging - for the first time since 1990 lol. 14 year repayment, 38% LTV. Would a fixed rate or tracker be best? I just want people's insight to how they think the base rate is likely to change. I.e. fix at two years 3.14% APR, or fix at five years 4.29% APR? Or track at Base Rate + 2.25% for…
Endowment advice please - continue or cash in
I took out a 25 year endowment in 1997 with a target amount of £25k (for my mortgage). My current premium is £60.47 and current value is £12,351. I've received the usual 'shortfall' letter from Aviva stating 4% = £15,600, 6% = £18,500 and 8% = £21,900 - the MEP is £3,100. Over the past few years I have worked in a…
Ealiest opportunity to get a new mortgage
Hi, I have a 5 year fixed rate mortgage (5.9%) with the Nationwide which does not finish till November 2012. My question is what is the earliest that I can start to apply for another mortgage with another vendor? Can I have the new mortgage agreed say 1 month before my tie in expires? Thanks
Exchanging on a P/X New Build when New Build is 12months off completion
Hello, we are in the process of part exchanging our house for a new build. The house is not due to be completed until Spring 2012. The problem is the builder is looking for an exchange within 28 days - with mortgage offers lasting a maximum of 6 months we wondered whether anyone had any experience of this in the recent…
Remortgage
Hi can anybody tell me if Its a good idea to remortgage to pay off a couple of loans I owe about 12000 pound and my house is worth around 145000 and I have a mortgage of 100,000 would I get a remortgage and how much could I add to it thanks I'm with Halifax
First Time Buyer advice
My girlfriend and I are looking to get our first mortgage and are looking for some advice on how to proceed. I have heard a good starting place is to visit a mortgage advisor. Is this true and if so can anyone recommend a good one in Newcastle? In general we know very little about mortgages and are looking for someone to…
Redemption Penalties to Self Build
I have an offset mortgage with First Direct, taken out over 10 years commencing in 2007. I have recently gain planning permission to demolish the house and rebuild a significantly larger house on the plot and have been in touch with First Direct to seek an extension to the mortgage to fund this. The undeveloped plot has…
Need Urgent Advice on Mortgage App Declined
Hi all, Yes you may call me foolish but I've gotten myself into a right mess. I put in an application for a new build under HomeBuy Direct after an independent broker confirmed I had been accepted in principle with Halifax. Shortly after this I received my credit report and saw an Orange default on there which I told my…
Should I, Could I claim for endowment?
OK, here's the story; An endowment mortgage deal was given to me by a broker in a branch of Bairstow Eves, back in 1996. I was 21yrs young and wanted to buy a house. I had no idea what I could borrow, but the advisor went through with me and sold me the Countrywide mortgage and endowment deal. He didn't explain any other…
AFTER Endowment refund
I put in a claim for my endowment policy when it first came to light, a few years ago now of which i recieved about £1,500, but due to the economic climate, the amount i will be short on my £31,000 is between £12,000 and £17,000 and i only have 5 years left to pay, i was told when i took out the mortgage origionally that…
New Build LTV
I am looking to move home into a new build. We have enough equity once depts are paid for a 14% deposit and the builder is going to put in a further 5% deposit as a gift. This makes my deposit 19% meaning i require a 81% LTV on mortgage. Most lenders appear to only go up to 80% LTV on a new build. Does anyone know of a…
Good Deal or not?
Hi, We recently decided to go down the route of improve (compared to move). We wanted to release equity of approx 15k on the mortgage, which we are reluctant to do as our current deal is 0.35% above base! Following discussions with our current lender, they tried to deter us from also giving up this deal which I was glad…
Are bank mortgages more competitive than building society mortgages?
In general, would you say that bank mortgages are more competitive than building society mortgages? If so, is that just because banks can raise capital more cheaply than building societies? Thanks
Fix now or move onto Nationwide Base Mortgage Rate
My current three year fixed mortgage deal is coming to an end at the end of June and will revert to the Nationwide BMR which is currently capped at a maximum of 2% above base rate (so currently 2.5%). My property is value is £200000 with a mortgage remaining of £70000, so the LTV is only around 35%. The big question is the…
Being paid to move your Mortgage?
I wonder if anybody can offer any good advice about trying to get a mortgage lender, who potentially wants to run their mortgage book down to make me an offer to transfer/move/pay off an existing mortgage. More specifically, i'm with IF.com and i know they don't do mortgages anymore and i'd assume they will want to clear…
Remortgage soon on lower income this time..
I fear there may be troubled waters ahead.. Thinking ahead,we are due to remortgage at the end of this year.I lost my job mid last year and although I'm lucky enough to have found another I am on a fixed term contract earning far less than I ever did. We currently have a 2 year deal deal with Nationwide on a repayment…
Removing name from joint mortgage, complicated.
Hiya, Looking for a little bit of advice on the best way to remove my name from a joint mortgage, though I feel I know what the answer may be already. I'll try give as much detail as I can without waffling. I bought a home with my ex partner around 7 to 8 years ago when I was very young and rather naive/stupid. Things went…
Wanting to move home
Hi, my partner and I have saw a property we would like to move to, we currently have a mortgage with Northern Rock, we took out a 100% mortgage of 100k in 2007 (100k house value) the property we've seen is 129k, I think we may be in negative equity now as the average estimate house value price we've had is 90k (probably be…
Any ideas
Hi We have a fixed term mortgage with NR (£970 a month interest only)which comes to an end in August. and the letter we received clearly states that they do not want to carry on with mortgages, and the interest rate will be 4.79% our loan is £170,100.00 with 17 years remaining. New payment is £739.70 Our home is worth…

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